Crude oil climbed again Thursday, topping out at $108.53 to close. Diesel fuel prices and gas prices follow up with gains as well.
On a euro basis, Brent futures hit a record 93.60 Euros per barrel earlier in the session, exceeding a previous record on July 3, 2008 of 93.46 Euros and prompting concern prices would hit the struggling economic recovery and further dent demand.
Fears of the conflict between Iran and the U.S. thicken, putting additional pressure on the price of oil. Despite the gloomy consumption predictions in the OECD, Goldman Sachs analysts expect Brent prices to show further upside this year.
Stay tuned. It seems as the weather changes, so does diesel fuel prices. The forecast looks gloomy and rain at this point. Let’s hope for sunny skies. [email protected] or 267-482-6160 fuel management.
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